The Financial Accounting Standards Board has released an updated accounting standard for reporting amounts reclassified out of accumulated other comprehensive income. Accounting Standards Update No.

The Financial Accounting Standards Board said Wednesday that it would consider postponing the effective date of certain provisions of a recently issued standard on the presentation of comprehensive ...

In an effort to simplify its Accounting Standards Codification, FASB has combined its guidance for income statements and comprehensive income into one topic. Previously, FASB’s guidance on these ...

Accumulated other comprehensive income (AOCI) accumulates other comprehensive income (OCI), which records unrealized and realized gains and losses from certain transactions. Unrealized means paper ...

FASB on Thursday issued an Accounting Standards Update (ASU) that the board said is intended to increase the prominence of other comprehensive income in financial statements and to facilitate ...

Discover the differences, advantages, and drawbacks of single-step vs. multiple-step income statements for better financial ...

A financial document generated monthly and/or annually that reports the earnings of a company by stating all relevant revenues (or gross income) and expenses in order to calculate net income. Also ...

An income statement presents the results of a company’s operations for a given period—a quarter, a year, etc. The income statement presents a summary of the revenues, gains, expenses, losses, and net ...

A statement of shareholder equity can tell you if your business is doing well or if it's time to fine-tune some of your ...